ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Sees Large Growth in Short Interest

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,163,375 shares. Based on an average daily trading volume, of 669,771 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of ADARx Pharmaceuticals to a “hold” rating in a research report on Saturday, October 3rd.

Insider Activity at ADARx Pharmaceuticals

In related news, Director Erez Chimovits purchased 61,516 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $1,045,772.00. Following the completion of the acquisition, the director directly owned 9,292,025 shares in the company, valued at approximately $157,964,425. The trade was a 0.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sr One Capital Management, Llc acquired 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $27,200,000.00. Following the completion of the transaction, the insider owned 5,554,094 shares in the company, valued at approximately $94,419,598. This trade represents a 40.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 3,261,516 shares of company stock worth $55,445,772 over the last quarter.

ADARx Pharmaceuticals Trading Down 1.5%

Shares of ADRX opened at $17.70 on Wednesday. ADARx Pharmaceuticals has a one year low of $16.64 and a one year high of $23.21.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.